New Homebuyer Trends Reveal Shifting Demographics, Priorities
OnPoint reveals its top five tips for buying confidently in a challenging market
PORTLAND, Ore. – March 12, 2025 — Potential homebuyers today face a confusing set of facts: Home prices are stabilizing in Oregon and Southwest Washington1, yet prices remain high. That, combined with cooling but persistent inflation2 and the possibility of tariffs, has given homebuyers cold feet. Yet, OnPoint Community Credit Union says there are several things prospective buyers can do to be well-informed and best position themselves in today’s market.
“There’s a lot of misinformation out there about the mortgage process that can lead people down the wrong path,” says Landon Anson, mortgage loan officer, OnPoint Community Credit Union. “I love when people come to me and are open to learning. We take the time to look at their unique situation and the area they want to live in, and work together to get past some perceived barriers. This allows them to make the best and more confident solution for them today – and in the future.”
2024 Homebuying Trends
In 2024, first-time homebuyers decreased by 25% in just one year, down from 32 to 24 percent of market share – the lowest since the National Association of Realtors (NAR) began collecting data back in 19813. At the same time, the median age of first-time homebuyers went up to 38, with the median age of repeat homebuyers increasing to 61. Among all homebuyers, 62 percent were married couples, 20 percent single women, and eight percent single men.
Economic trends are shifting, which means understanding the best homebuying strategies is more important than ever. OnPoint’s mortgage experts offer these five tips for homebuyers in today’s market:
- Consider alternative down payment options. Having 20 percent of a home’s price on hand for a down payment is no small feat, especially for younger buyers in a tight housing market. Taking a loan from a 401K account through an employer is a common solution for buyers who are farther from retirement age. Gifts or inheritance are common down payment options as well.
- Research local down payment assistance programs. Taxpayer dollars fund programs run by our local governments, some of which create homeownership opportunities. The Portland Housing Center, for example, offers grant and matching fund programs for qualifying first-time homebuyers in the Portland area.
- Focus on the payment, not the rates. Interest rates don’t necessarily mirror mortgage rates, yet they may impact a homeowner’s payment. Mortgage rates shift based on how the real estate market is expected to change. Homebuyers should focus on their monthly maximum payment throughout the process.
- Be flexible on location. Commute time is a big consideration for homebuyers who work outside of the home. Often, convenience comes with a much higher price tag. Buying outside a major metropolitan area can mean a significant cost saving on a mortgage, which may outweigh the benefits of living closer to work or city amenities.
- Vet your lender carefully. Buying a home is one of the biggest financial decisions an adult will make. It’s important to choose a lender who is invested in the process and understands the magnitude of the transaction. Local lenders tend to offer lower fees and quicker communication. Once you decide on a lender, make sure the loan officer is upfront and clear about timelines, fees, and potential obstacles.
The road to homeownership can feel overwhelming, especially for first-time buyers. Empowering yourself with knowledge about the process, taking advantage of all options for assistance, and seeking out a supportive lender can keep you on track. For more details about home loans or to reach a mortgage loan officer, visit OnPoint Community Credit Union.
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About OnPoint Community Credit Union
OnPoint Community Credit Union is the largest credit union in Oregon, serving over 594,000 members and with assets of $9.7 billion. Founded in 1932, OnPoint Community Credit Union’s membership is available to anyone who lives or works in one of 28 Oregon counties (Benton, Clackamas, Clatsop, Columbia, Coos, Crook, Curry, Deschutes, Douglas, Gilliam, Hood River, Jackson, Jefferson, Josephine, Klamath, Lane, Lincoln, Linn, Marion, Morrow, Multnomah, Polk, Sherman, Tillamook, Wasco, Washington, Wheeler and Yamhill) and two Washington counties (Skamania and Clark) and their immediate family members. OnPoint Community Credit Union is federally insured by the National Credit Union Administration (NCUA). More information is available at onpointcu.com or 503-228-7077 or 800-527-3932.
2https://www.bls.gov/news.release/pdf/cpi.pdf
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